Sunrise commission OKs phase one of Metropica

Metropica secured approval for the first phase of the 65-acre, master-planned community in west Broward County.

The Sunrise City Commission OK’d 370,000 square feet of retail space, a 345-unit apartment building, and the rights to a 240-room hotel and 140,000 square feet of Class A office space, according to a press release. It also recently received site plan approval from the city’s planning and zoning department.

In all, the $1.5 billion project will have 2,250 residential units, 650,000 square feet of office space, hotel, a public transit station, parks, and art.

Led by Joseph Kavana, Metropica Development LLC is working first on Yoo at Metropica, a 263-unit condo tower. The developer is seeking EB-5 investors to finance and live at the project. Under the EB-5 program, foreign investors can work and reside in the United States if they put at least $500,000 into a U.S. investment and create at least 10 jobs in two years.